Amgen Completes $27.8 Billion Acquisition of Horizon Therapeutics

Amgen, a leading biotechnology company, has successfully finalized its acquisition of Horizon Therapeutics for a staggering $27.8 billion. The completion of this deal comes after receiving approval from the U.S. Federal Trade Commission (FTC) last month, subject to certain conditions.

Under the settlement terms with the FTC, Amgen is obligated to refrain from employing any anticompetitive tactics that could extend the market dominance of Horizon’s thyroid eye disease treatment, Tepezza, and gout drug, Krystexxa. This move by the FTC aims to ensure fair competition in the pharmaceutical industry and prevent any potential monopolistic practices.

The FTC’s antitrust lawsuit had raised concerns about the need for increased oversight on mergers and acquisitions in a sector that often relies on consolidation to drive future growth, especially as patents on older treatments expire. By imposing these conditions, the FTC aims to strike a balance between encouraging innovation and maintaining a competitive landscape.

Both Amgen and Horizon Therapeutics had set a target to close the deal within the fourth quarter, and they have successfully achieved this timeline. This acquisition holds significant potential for Amgen to expand its product portfolio and strengthen its position in the market.

The completion of this acquisition is a significant milestone for both companies, and it highlights the ongoing developments and strategic moves within the pharmaceutical industry. As Amgen integrates Horizon Therapeutics into its operations, it will be interesting to see how this acquisition shapes the future of the company and the healthcare sector as a whole.